Novan Inc. (NASDAQ: NOVN) growth is a big Buy opportunity

Novan Inc. (NASDAQ: NOVN) is -84.61% lower on its value in year-to-date trading and has touched a low of $0.22 and a high of $3.72 in the current 52-week trading range. The NOVN stock was last observed hovering at around $0.46 in the last trading session, with the day’s gains setting it 0.03% off its average median price target of $3.00 for the next 12 months. It is also 89.11% off the consensus price target high of $4.50 offered by 1 analysts, but current levels are 67.33% higher than the price target low of $1.50 for the same period.

Currently trading at $0.49, the stock is -14.78% and -17.86% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.51 million and changing 6.88% at the moment leaves the stock -42.12% off its SMA200. NOVN registered -78.67% loss for a year compared to 6-month gain of 121.15%. The firm has a 50-day simple moving average (SMA 50) of $4.10% and a 200-day simple moving average (SMA200) of $2.82M.

The stock witnessed a -29.52% loss in the last 1 month and extending the period to 3 months gives it a 20.67%, and is -1.38% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 9.71% over the week and 9.45% over the month.

Novan Inc. (NOVN) has around 42 employees, a market worth around $67.43M and $5.20M in sales. Distance from 52-week low is 126.19% and -86.93% from its 52-week high. The company has generated returns on investments over the last 12 months (128.90%).

Novan Inc. (NOVN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Novan Inc. (NOVN) is a “Buy”. 1 analysts offering their recommendations for the stock have an average rating of 2.50, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Novan Inc. is expected to release its quarterly report on 08/27/2020 and quarterly earnings per share for the current quarter are estimated at -$0.05 with sales reaching $1.09M over the same period. The EPS is expected to shrink by -137.60% this year, but quarterly earnings will post -0.50% year-over-year. Quarterly sales are estimated to shrink -17.20% in year-over-year returns.

Novan Inc. (NOVN) Top Institutional Holders

27 institutions hold shares in Novan Inc. (NOVN), with 25.02M shares held by insiders accounting for 18.20% while institutional investors hold 12.02% of the company’s shares. The shares outstanding are 137.47M, and float is at 124.81M with Short Float at 3.25%. Institutions hold 9.83% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 1.69 million shares valued at $0.82 million. The investor’s holdings represent 1.23% of the NOVN Shares outstanding. As of Jun 29, 2020, the second largest holder is Acadian Asset Management with 0.55 million shares valued at $0.27 million to account for 0.40% of the shares outstanding. The other top investors are Bridgeway Capital Management, Inc. which holds 0.47 million shares representing 0.34% and valued at over $0.22 million, while Blackrock Inc. holds 0.28% of the shares totaling 0.39 million with a market value of $0.19 million.

Novan Inc. (NOVN) Insider Activity

A total of 2 insider transactions have happened at Novan Inc. (NOVN) in the last six months, with sales accounting for 0 and purchases happening 2 times.

Novan Inc. (NOVN): Who are the competitors?

Omeros Corporation (OMER) is -37.45% down on the 1-year trading charts.